Asian Stocks Rise on Low Volume as Chinese Manufacturing Expands

Asian stocks rose after a gauge of China��s manufacturing expanded at the fastest pace in five months and the nation��s policymakers said they will cut the reserve requirement ratio for some banks.

The MSCI Asia Pacific Index gained 0.2 percent to 142.09 as of 9:02 a.m. in Tokyo. Trading volumes across the region will be lower than average with markets in China, Hong Kong and New Zealand closed today for holidays. Japan��s Topix index advanced 0.9 percent and South Korea��s Kospi index rose 0.3 percent. Australia��s S&P/ASX 200 Index slipped 0.1 percent.

China��s Purchasing Managers�� Index rose to 50.8 in May, the National Bureau of Statistics and China Federation of Logistics and Purchasing said yesterday in Beijing, the highest since December and topping the median economist estimate in a Bloomberg survey. Authorities reduced some lenders�� reserve requirement ratios in the government��s latest step to support growth in the world��s second-biggest economy.